iShares US Energy

On October 27, Antero Resources Corporation announced the initial public offering of Antero Midstream Partners LP.

Antero Resources’ current acreage is focused in the Marcellus Shale in West Virginia and the Utica Shale in Ohio.

Cheniere Energy, Inc.’s MLP company’s Sabine Pass liquefaction project has already secured four fixed-price, 20-year sales and purchase agreements with third parties.

Chevron Corporation is currently trading at EV-to-2014E EBITDA of 5x, has an approximately $239 billion market cap, and ~$245 billion enterprise value.

Exxon Mobil has three major business segments: Upstream, Downstream, and Chemical. Upstream contributes the most to XOM’s earnings.

On February 9, 2017, US crude oil futures contracts for March delivery closed at $53.00 per barrel—an ~1.3% rise compared to the previous trading session.

Cushing crude oil inventories have fallen 10% in the last ten weeks. A better-than-expected fall in Cushing inventories could support US crude oil prices.

Cheniere Energy, Inc., is a Houston-based energy company engaged in the liquefied natural gas business.The Sabine Pass liquefaction project is one of the first projects to receive the necessary government permits to export liquefied natural gas.

Industrials, utilities, and telecommunications have much higher leverage, as these sectors have massive capital needs.

Hedge funds increased their net long positions in US crude oil futures and options by 43,861 contracts or 18.4% to 282,362 contracts on July 25–August 1.

November WTI (West Texas Intermediate) crude oil futures contracts rose 0.32% to $50.97 per barrel in electronic trade at 5:10 AM EST on October 12, 2016.

September US crude oil prices are on a rollercoaster ride in 2017 due to bullish and bearish drivers. US crude oil prices are near a two-month high.

Carl Icahn mentions the use of credit default swaps as a form of protection against credit events. He implies that investors should possess sophisticated knowledge of the fixed income markets to enter that playing field.

US crude oil production rose by 290,000 bpd (barrels per day) or 3.1% to 9,481,000 bpd in September 2017—compared to the previous month.

The EIA (U.S. Energy Information Administration) reported that US crude oil production rose by 13,000 bpd (barrels per day) to 9,265,000 bpd on April 14–21.

Global crude oil supply outages increased by 208,000 bpd (barrels per day) to 1,738,000 bpd in December 2017—compared to the previous month.

US WTI crude oil prices were at $54.45 per barrel on February 23—the highest level since June 2015. As of April 10, prices were 2.5% below their high.

The US Energy Information Administration estimates that global crude oil supply outages fell by 247,000 bpd (barrels per day) to 2.0 MMbpd (million barrels per day) in June 2017.

On a combination of several factors such as its earnings, share buybacks, and XTO acquisition, XOM’s balance sheet has grown.

The EIA estimated that four-week average US gasoline demand rose by 210,000 bpd (barrels per day) to 9,312,000 bpd from March 17–24, 2017.

November WTI (West Texas Intermediate) crude oil futures contracts rose 0.5% and settled at $50.44 per barrel on October 13.

Event-driven strategy is designed to make an investment in special situations, including mergers and acquisitions, restructuring, split-offs, bankruptcy, and other major events.

Many oilfield equipment and services (or OFS) companies’ cash flows have taken a beating following the energy price weakness in the past two years.

A Bloomberg survey estimated that the crude oil inventories at Cushing could have fallen by 1.5 MMbbls between December 29, 2017, and January 5, 2018.

RDC’s analyst recommendations Analysts’ consensus rating for Rowan (RDC) is 2.6, which means a “hold.” Peers Transocean (RIG), Diamond Offshore (DO), Noble (NE), and Ensco (ESV) also have “hold” ratings. Of the 31 analysts covering Rowan (RDC), 39% recommend “buy” or some equivalent, 55% recommend “hold,” and 6% recommend “sell.” Among the top offshore drilling stocks […]

It’s advisable to sell stocks on bounces when the stock is in a downtrend. In a sideways trend, it’s advisable to buy stock at support levels and sell at resistance levels.

CVX is headquartered in San Ramon, California. It’s an energy company that engages in oil and gas exploration, production, refining, marketing, and transportation of oil and gas.

Headquartered in Houston, Texas, Southwestern Energy Corporation (SWN) is one of the largest independent natural gas and oil producers in the United States.

According to the EIA, US crude oil production increased by 28,000 bpd (barrels per day) to 9,782,000 bpd on December 22–29, 2017.

Analysts expect that Cushing crude oil inventories could have declined on January 5–12, 2018. A fall in Cushing inventories is bullish for oil prices.

On January 21, the NOC (National Oil Corporation) of Libya said that it would restart the Wintershall AG’s Sara oilfield. NOC is a state-owned oil company.

On January 16, Weatherford International’s (WFT) implied volatility (or IV) was ~64%. Its 3Q17 earnings were announced on November 1, 2017. Since then, its implied volatility has increased from 54% to the current level.

US natural gas consumption fell 14.4% to 102.6 Bcf (billion cubic feet) per day on January 4–10, 2018, according to PointLogic.

The US Dollar Index fell ~9.8% in 2017. The dollar fell partly due to the improving economy outside the US. It was the worst annual drop since 2003.

Weatherford International’s (WFT) EV (enterprise value) when scaled by a trailing 12-month adjusted EBITDA is close to the peer average in our group.

A larger-than-expected withdrawal in US natural gas inventories compared to historical averages would help natural gas prices this week.

US gasoline inventories rose by 0.5 MMbbls (million barrels) or 0.3% to 228.3 MMbbls from December 15 to 22, 2017, per the EIA.

Baker Hughes published its US crude oil rig report on December 22, 2017. The US crude oil rig count was flat at 747 on December 15–22, 2017.

The EIA estimated that US crude oil production rose by 9,000 bpd (barrels per day) to 9,789,000 bpd on December 8–15, 2017.

Cushing inventories fell by 3,317,000 barrels to 52.2 MMbbls (million barrels) on December 1–8, 2017, according to the EIA.

US dry natural gas production was flat at 76.1 Bcf (billion cubic feet) per day on December 7–13, 2017, according to PointLogic.

US distillate inventories fell by 1.3 MMbbls (million barrels) to 128.1 MMbbls on December 1–8, 2017, according to the EIA.

According to the EIA, US gasoline inventories rose by 6,780,000 barrels to 220.8 MMbbls (million barrels) on November 24–December 1, 2017.

Baker Hughes, a GE company, is scheduled to release its US crude oil and natural gas rig count report on December 1, 2017.

Saudi Arabia’s crude oil exports to the US fell to 525,000 bpd in October 2017—the lowest in 30 years. Exports fell due to ongoing output cuts.

The EIA estimates that Iran’s crude oil production was flat at 3.8 MMbpd (million barrels per day) in August 2017—compared to July 2017.

Let’s track some important events for crude oil and natural gas traders between September 18 and September 22.

A market survey estimates that Cushing crude oil inventories fell from September 1 to 8, 2017. Cushing crude oil inventories rose for the fourth time in the last five weeks.

The Russian Energy Ministry estimates that Russia’s crude oil production was flat at 10.95 MMbpd in July 2017—compared to the previous month.

In the week ended June 23, 2017, natural gas inventories were at 2,816 Bcf (billion cubic feet)—46 Bcf more compared to the week earlier.